Impact Minerals (ASX:IPT) has received a rebate of $512,000 from the Research and Development Tax Incentive scheme for the financial year ending 30 June 2024.
These funds will be used to continue the Prefeasibility Study (PFS) on Impact’s flagship Lake Hope High-Purity Alumina (HPA) Project in Western Australia, which is scheduled for completion in Q1 2025.
They will also contribute to the accelerated start of the recently announced research and development project in conjunction with CPC Engineering and Edith Cowan University to help build a pilot plant for the Lake Hope project.
The project will also be funded by the recently announced grant of $2.87 million under the Federal Government’s CRCP program, as reported by Mining.com.au.
Managing Director Dr Mike Jones says the unique mineralogy and patented and proprietary processing techniques for Lake Hope have allowed the company to claim back a significant proportion of expenditures through the tax incentive program and this will be the case moving forwards.
“The funds will be put towards the Lake Hope Prefeasibility Study and the start of our exciting research project with CPC Engineering and Edith Cowan University to build a pilot plant to produce HPA from the clays at Lake Hope,” says Jones.
“The end result will likely be one of the most cost effective Feasibility Studies in the industry”.
Yesterday (19 November), this news service reported that Impact has delivered a maiden measured mineral resource estimate for Lake Hope, which supports the first 15 years or more of proposed production.
The higher confidence measured resource totals 730,000 tonnes of lake clay at 25.8% alumina for a contained 189,000 tonnes of alumina.
This MRE underpins a maiden probable or proven reserve statement for an initial 15-year mine life at the proposed benchmark production rate of 10,000 tonnes per year of HPA. It is part of a much larger resource that includes indicated and inferred resources with a “unique” deposit of “high-grade” alumina.
Write to Adam Orlando at Mining.com.au
Images: Impact
